Business
ASX falls 0.7pc with iron ore miners down on China steel sector woes – The Australian Financial Review
The S&P/ASX 200 Index fell 44 points to 6780.6 on Wednesday on uncertainty in the key Chinese market. Fortescue Metals Group was down 6.4 per cent.
Fortescue Metals Group fell 6.4 per cent to $23.68. The Andrew Forrest-backed miner sold off ahead of its quarterly production report scheduled on Thursday. BHP Group dropped 3.4 per cent to $45.05 and Rio Tinto shed 3.9 per cent to $117.05.
Wesfarmers broke through $55 a share for the first time after Morgan Stanley lifted its price target on the retailing giant. Shares in the Perth-based conglomerate climbed 1.7 per cent to $55.25, a record high.
The stock is on track for a seven-day winning streak,…
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